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记者的观察
The realities of real estate* z! ?/ k' v0 x$ b5 i6 ]. |
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Published: Friday, October 06, 2006 4 ^9 `6 A5 V$ T. c4 p( ~1 L) U
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.' x) a, [$ x6 r$ L9 K- M
: @% b2 a( |/ \. ?" N% M) r8 bThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta. w% {4 o, S( q" q, D$ I
% `3 _3 c7 z! o6 E G- nShe moved here in December with dreams of being a homeowner, something she could never afford in Vancouver despite four years of saving her money for a down payment.
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) ]; s h8 l, W, OBut she didn't expect Edmonton's world of hot housing where the law of successful buying seems to consist of three elements: speed, cash and no conditions.0 s" q p3 {+ @. t2 c: J+ H
$ Y1 h' H8 {, q: e" ["It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do./ ]& l( o! ?+ K, D4 J
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But she has lost out on four places since beginning her search for a house.
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8 U% O I( Z( O0 PShe's been outbidded, "out-offered" and "outconditioned."" F- ]% z+ X- ^- U9 j
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.. Z2 n! i: o6 a% @
) l6 `; C. E5 fShe left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.3 Z* Q0 M: p1 ?$ T0 t0 T
8 N9 Z9 |9 p9 LBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her.8 E) K9 X6 G7 z5 L1 d5 f+ t, P2 ~
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.8 e5 v5 G/ d' @& z# S& p
! w$ Q0 V% s% y. dAn average single dwelling unit in Edmonton sold for $316, 480 in August this year. An average townhouse, which includes the price of duplexes, sold for $262,327 in the same month. Last year in August an average townhouse sold for $175,922.
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% t3 ^3 q5 S* k3 GThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.- F. r. Q( W6 E/ T! o
6 f6 c8 |- O8 r' u"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable."' S: o2 T% W+ B1 D5 k' D: T! g. k9 I8 T
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That may mean sellers are not as open to "conditions" on offers as they used to be -- such as a house inspection before the deal is finalized. |
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